Business
Palm Oil Mill and Operational Update
Palm Oil Mill and Operational Update.
About this update from Capital Metals Plc
[{"type":"text","content":"\n \nRNS Number : 9931U Equatorial Palm Oil plc 13 April 2016 \n\n13 April 2016 \n \nEQUATORIAL PALM OIL plc\n(\"EPO\" or the \"Company\")\n \nDevelopment of 60mt/hr Palm Oil Mill and Operational Update \n \n \nEquatorial Palm Oil plc (AIM: PAL), the AIM listed palm oil development and production company with operations in Liberia, West Africa today updates the market with respect to the decision to construct a 60 metric tonnes per hour (\"mt/hr\") palm oil mill (\"POM\") and its general operations.\n \nHighlights:\n· Decision made to progress with investment for construction of 60mt/hr POM at the Palm Bay Estate\n· Approximately US$20m initial capital expenditure, to be funded by debt currently being arranged by Kuala Lumpur Kepong Berhad (\"KLK\") \n· First production scheduled for 2018\n· First plantings in 2011-12 now bearing fruit\n \nPalm Oil Mill\nThe Company is pleased to announce it is to construct a 60mt/hr POM to be located at the Palm Bay Estate.\n \nThe POM will be constructed in a modular fashion with two lines of 30mt/hr each, however, the ground preparation will be completed for a 60mt/hr POM. The first stage is the commissioning of a 30mt/hr POM, anticipated to be operational in 2018, which will cost approximately US$20m and is to be funded by debt finance which our major shareholder and JV partner Kuala Lumpur Kepong Berhad (\"KLK\") is arrangi...